About the currency calculator

Do you deal in shares in different currencies? Do you like to travel? Do you like to shop on foreign online shops? The currency calculator of Markets Insider is the ideal tool for you.

With the currency calculator, you can quickly and easily convert amounts between any currencies. In total, there are about 160 different currencies available on the currency calculator.

Once you select the base and target currencies from the list and enter the desired amount into the provided field, the currency calculator immediately gives you the result. Additionally, you can also choose whether to calculate the result based on the current exchange rate or the exchange rate on a certain date. This way, the Markets Insider currency calculator allows you to search for historical exchange rates. The result provided by the currency calculator is displayed in a clearly arranged table. Here, the currency calculator shows the opening and closing rate as well as the lowest and highest rates for the respective date.

General information about currencies:

Currencies have existed for several millennia; they arose primarily as a replacement for the ineffective barter trade. The functions that a currency took on (means of payment, value storage, unit of value) were essential to the development of an efficient economy with division of labor. In the beginning, different items were used as currency, including metals, pearls, shells or agricultural products. Minting of coins from precious metals was developed about 2500 years ago in ancient Greece; paper money has existed for about 1000 years.

Today, almost every country has its own currency, with the exception of countries with a common currency (such as the Eurozone) or countries that have adopted a foreign currency (such as the euro in Kosovo). Thus, there are worldwide more than 160 official currencies that can be traded on the currency market at constantly changing exchange rates. On the currency market, there is a larger trade volume than on the credit or the stock market. For decades, the most important base currencies of the world have been the U.S. dollar, the euro, the British pound and the Japanese yen.